London house prices will grow by just 3 percent next year, according to leading U.K. estate agent Hamptons, which has halved its forecasts for house price growth in the capital in 2015.
This is the latest prediction to suggest that London house prices are finally cooling down, after a couple of years outstripping forecasts. In June, values rose at their slowest pace in 15 months, according to the Royal Institute of Chartered Surveyors.
That followed a record annual increase in London of 20.1 percent in May, according to data from the Office for National Statistics.
At the top of the market in London, prices grew by just 0.3 percent in July, according to estate agent Knight Frank.
“Inconsistent data for the prime central London residential market suggests it is entering a new phase as a general election and rate rise approach”, Tom Bill, head of London residential research at Knight Frank, said in a statement.